If you thought your last bad relationship was tough, meet Solana’s projects. Step Finance, SolanaFloor, and Remora Markets have decided to call it quits after a hack that made them lose $40 million. Coincidentally, this is also when SOL decided to play the role of a teenager who refuses to talk to their parents-currently trading at $89, still clinging to the hope that $100 is just a typo.
In a recent X post, Step Finance declared they’re “winding down operations,” which is just crypto-speak for “we’re done here, thanks for the memories.” Their sister platforms are joining the party, too. The hack? A disaster so profound it makes you wonder if someone left their wallet open in a public restroom. The company says they tried everything: loans, acquisitions, maybe even a séance. Nothing worked. Now they’re offering a buyback for STEP holders, which is generous… if you don’t mind the token being worth less than a loaf of sourdough bread.
STEP’s price drop? A 40% plunge in a week. From an all-time high of $10 to 0.00060. That’s like going from a Lamborghini to a skateboard rental in six months. Remora Markets, the tokenized stock platform, is also closing shop, promising to let holders redeem their tokens for USDC. Which is fine, unless you were planning to buy a house with those rTokens. Now you’re buying a sandwich instead.
Meanwhile, SolanaFloor-the media arm-is archiving its content. No new posts, just old videos and newsletters to haunt you. Solflare, the wallet, is pausing its news section because, well, why publish good content when the market’s a dumpster fire? They’re considering letting users post “community-driven articles” instead. Let’s just say I’ll be the first to submit a 2,000-word essay on why my cat is better than your DeFi strategy.
George Harrap, Step Finance’s co-founder, hinted there might be a last-minute acquisition. “People have reached out,” he said, “but we’re working with a time crunch.” Translation: If you want to buy our mess, better bring your checkbook and a therapist.
As for the Solana price? It’s up 8% in 24 hours. Progress! Or as I call it, the market’s way of saying, “Okay, fine, we’ll pretend this isn’t a catastrophe.”
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2026-02-26 22:11